/biz/ - Business & Finance

>>49734252
based cryptobros forcing game companies to continue targeting older hardware and letting me squeak by with a 1070 for almost five years.

>>49734252
Imagine the sound
>WWHHIIIRRRRRRRRRRRRRRRRRRRRRRRRRRRR

at least graphics card will be cheap again lol

>>49734252
>TFW you bought $50k in graphics cards and now the coins they mine aren't worth enough to keep the lights on.

This is a great day.

>>49734377
Are you suggesting, I'd let you have that lower price? No, No. They are staying that price for now on.

>>49734418
>>49734338
sounds like a tank with quantum

>>49734377

yup soon time to build the Starfield rig, pass the time during crypto winter while DCA back into market

>>49734338
If it wasn't bolted down, it will fly away like a drone.

>>49734418
I spent 50k on GPUs very early last year and made over $120k+ profit total at the peak. Even with the crash its still over $70k total profit currently. And the GPUs now are worth the same/even more than I paid for them, so I still have 50k+ of gpus I can sell.

>>49734536
You're not getting 50k back for those used, worked to death GPUS.

>>49734567
Yes he will. Gamers are literal retards.

>>49734583
GPUS aren't that hard to get anymore.

>>49734252
imagine sticking your dick in one of those fans lmao

>>49734252
Absolutely abhorrent setup. Open air GPUs direct heat to the sides in all direction. Any GPUs that is surrounded on all 4 sides are toast.

T. miner

Gamers are all fucking faggot retard cringe pathetic losers, no fucking exception

Im saying this as an ex-gamer btw

>>49734536
Don't forget to pay your taxes.

>>49734650
The fans quite clearly point up and down.

>>49734657
well done, anon. You were on track to becoming a tranny.

>>49734536
>early last year
Absolute cap. Even with most efficient $/hash rate GPU and electricity cost of $0/kWh, there is no possible way you made 2.4x in that time even if you started January first.
>t. fag who has been mining ETH longer than you

>>49734694
Not really, Im 35 and quit gaming 10 years ago before the era of troonies took off

>>49734286
My fucking man. You and I.
Yes I believe I WIILL play Elden Ring and TWW3 on max thank you!

Not only that but I physically cannot upgrade my computer further. I would need a new motherboard so its been pretty awesome watching a 2016 computer play everything.

>>49734567
Stop believing bullshit you hear on the internet. I've been mining on and off for about 8+ years and I've probably been through hundreds of GPUs, and I can count the number of GPUs dying on one hand. Performance and "silicon degradation" is pretty much a myth if your cards are kept in a good environment. I've had cards that have been running for 3-5 years straight that have only had about 1-3% degradation in performance on average, which is not noticeable in gaming at all.

Best part is I keep all the retail packaging in storage and when a new series of GPUs comes out I clean them thoroughly and repackage them in the original packaging and sell them as "refurbished" from my "computer business" and I pretty much get the exact retail value I paid for them, sometimes a bit less and sometimes a bit more.

>>49734670
I have not paid one cent of taxes on crypto. I know a russian guy I meet IRL that gives me cash for crypto at a small % under market value. The only time I ever paid tax on crypto was when I bought my house.

>>49734713
I sold a big chunk of it in nov/dec almost near the top. I do this every gen of GPUs if its a bull market.

>>49734713
>>49734536
Also
>owe sales tax on purchase of mining hardware
>owe ordinary income tax of value of ETH when sent from mining pool -> wallet
>owe capital gains taxes on any gain in ETH achieved by not selling upon receipt instantly
>electricity costs
Even with business deductions, depreciation, all that shit I would be shocked if your gross >= capex. Let alone your net fag

>>49734798
>paying taxes on crypto ever
retard

>>49734694
what makes it any different from watching comicbook movies - other than the insane cash you have to dole out for gaming systems and games?

>>49734713
ETH mining was very deep in loss until 2020 Defi summer. And ETH miners were making a killing in early 2021 until that London hardfork in August 2021 that jewed miners out of transaction reward. Difficulty isn't everything.

>>49734768
Based. Do you own a home / where do you get power?

>>49734583
Says the faggot who buyed crypto

>>49734809
Confirmed LARPER. So you forgo all business benefits like being able to deduct electricity costs, equipment costs, depreciation? You’re fucking retarded now I know for a fact you are underwater if you’re not larping. Go rope

>>49734741
Yup, anyone still gaming after their early 20's is a loser. Grow up and work on improving your life instead of running away virtually.

Can't imagine the CoP for those fans to be very high.
They'd do better to buy a few boxfans and disconnect the prefabs.

>>49734768
My first GPU which was Zotac GTX 1070 mini died in 2 years because fans were dying but I was too dumb to fix it. Code 43.

Another GPU zotac gtx 1060 single fan died shortly after, not fan related. Code 43

I have 2 more zotacs: Gtx 1060 AMP and GTX 1080 TI. 1060 died a couple times, needed to lubricate with washing machine oil once. GTX 1080 TI died every single Epoch change, had to do washing machine oil 3 times and it's not dying lately.

Zotac GPU was only brand available whenever there's GPU shortage. So I bet your dead GPUs were all Zotacs?

>>49734945
Sorry I mean Sewing Machine oil trick. Courtesy of that Red Panda mining video.

>>49734798
>Use cash from work/savings etc to buy gpus (I started with student loans many years ago)
>Mine crypto with gpus
>Sell crypto irl for cash (used to used localbitcoins before they went KYC, now I use personal contacts I've made throughout the years or localmonero)
>Buy more GPUs with cash or crypto
>Mine even more crypto

>>49734833
I started in my apartment. Then moved my setup to my parents home when I needed more space and offered to pay their electricity bill. Eventually I rented a commercial space when my power needs increased. Now I am on some off-grid property I built a workshop on.

>>49734878
Yes. I forgo all business benefits because I am a crypto OG and I don't believe the government jew should have their nose in ANY of my financial affairs. With the amount I make in my country, all the "business benefits" wouldn't be worth the 40%+ I'd have to pay in taxes. I buy all new equipment with profit from mining and I do all the labour myself. I have not done income tax in over 15 years (when I was working at a grocery store in high school) because I've officially made "no money" since then. Mining as a business only makes sense in some countries or states. I also pretty much doubled or tripled most of my mining profits from trading shitcoins. All my daily expenses/bills etc I pay with cash or prepaid credit cards.

lots of angry miners in this thread. Their operations are in ruins now that ETH is done. Good luck making money mining Ergo., faggots.

>>49735094
Enjoy getting assraped by the IRS. You really think they are stupid and don't realize how you're living and buying these things after having no job for 15 years? Get a clue moron.

>>49735094
Good for you but I still don’t buy your story. Too many plot holes. 2/10

>>49735164
You think I am retarded? I don't even live in the US, why would I be worried about the IRS? My identity isn't attached or associated with any of my wallets or mining activity. All of my trading activity is done on DeFi and I've never used a KYC exchange. Any tax authority would need to be able to prove I am making money to fuck me, which they can't. Other than the GPUs/equipment, all my wealth is either on encrypted crypto wallets that I own the keys for or in gold and silver I bought with said crypto and cash buried on my family's property. The best part is I am also legally registered as disabled and even get a pension from the gov, which I use for all my basic expenses that I don't use cash for. Also, the property I bought for my mining stuff is in my parents name.

>lmaoing at seething retards thinking miners didn't already make 2-3x times profit

I could throw all my RTX 3000 series cards in the garbage and still be massively in profit.

>>49734252

Now they will pay the fucking price.

And they are out of lives.

Hmph, nothing personnel kids.

>>49735535
>miners didn't already make 2-3x times profit

Depends.. Even in the good times mining eth would take around a year to break even on the investment cost. Eth hasn't been big that long, I would say a lot of recent miners from the last year are probably underwater.

>>49734252
>YAAAS NOW I GET TO AFFORD GPU SO THAT I CAN PLAY POZZED BING BING WAHOOS

>gpu I bought @ $400 openbox is now $300 new

>>49734286
>>49734762
Yes that's true but also we are hitting limits of Moore's law, generational improvements in tech are minor compared to 10 years ago. The transistors can't physically get much smaller.

btc crashing will normalize gpu prices eh?
good stuff

>>49734567
mining properly is less hard on mining then gaming. mining stresses the card to a reasonable level 24/7, whereas gaming only stresses the card in intermittent bursts, plus that stress is often too high because everyone wants to play on ultra. unironically the hardest thing you can do to your card is turning your computer on and off again, something mining rigs rarely go through

>>49736018

Yeah. My local microcenters are sitting on hundreds of GPUs now.

Still not dropping prices yet, but there is no longer a supply constraint for people who are willing to buy GPUs at inflated MSRP.

Only a matter of time until these drop though. They've had literal hundreds for months now.

>>49736140
heres hoping soon, i'd love to help some friends plan out pc builds.

HELLO IM HERE TO BUY THE CURRENCY OF THE FUTURE

>>49736018
It's actually because of Eth PoS. Nobody mines Bitcoin with GPUs anymore

>>49736242
well they're both rightfully falling, so its fine.

>>49734841
gtfo back to /v/ and eating goyslop trash. go eat your seed oils

>>49735438
With your current knowledge how would you go about starting mining now?
I'm thinking about buying a property to go off the grid and built a small solar farm to start mining but I never mined before and am not sure about the scale. What do you think about heating a (green-)house with oil heated by mining rigs?

>>49736703
nigga u retarded

>>49736703
Mining is about to be kill with ETH move to staking. You would be way way way late to the game. You’re better up setting up an orange tree farm off the grid and making orange juice unironically.

>>49736006
people have been saying this since forever, yet tech still keeps improving

>>49734841
>buyed
Bought

>>49734490
kek

>>49734768
>Stop believing bullshit you hear on the internet.

Trust me. No one’s buying your horseshit.

>>49736901
Boughted

>>49734286
I still use 7850s

Miners are liars like roider you say they are natty

>>49734286
fpbp, 1060 gigachad here

>>49734536
>He didn't sell immediately after he got paid

God damn miners are so fucking retarded

>>49734252
I hate crypto FAGGOTS like you wouldn't believe.

>>49737462
based 1060 enjoyer. i can literally run anything i want on comfy 1080p settings

>>49736878
The leap from 8 bit games to ps2 era was crazy fast and unprecedented. Nowadays it's who cares, even if you doubled the polygons it's not gonna look that different.
>Rtx
Cool tech in the right circumstances, mainly a novelty though.

>mfw used all my crypto mining cards to bot gold in LOST ARK and made more money than 1 year of crypto in 2 months
heh thanks gamers keep buying my gold while I increase my LINK stack

>>49734286
>>49737462
>>49737551
You run supercomputers for little reason. I run an R9 290 since 2014 and there's literally no problem at all on 1080p monitors.

4K is a massive meme for most intends and purposes.

Especially as you get older you can't even see well.

>>49737692
1080 to 4K no real difference
4K to 4K HDR big difference
Problem with HDR. So many compatibility issues. Many people encode is incorrectly. Too many versions. And really at the end of the day, a good monitor with the right color and brightness and HDMI black corrector settings, you really do not need HDR meme either.

4K/8K only matters for VR when you need that kind of resolution for each lease to be clear as fuck. 120+240hz etc. 120fps. All that to me I notice more with VR videos / applications / games.

>>49737780
Lenses

>>49734878
I'm finishing up my taxes still for my business but there's basically no benefit to paying taxes vs not paying taxes if you're not caught by the IRS. Not paying taxes = $0 in taxes. Paying taxes = $0 in taxes (if expenses outweigh income) to >$0 in taxes if they don't.

Writing off stuff tangentially related to your business doesn't affect your other revenue streams and only affects your mining taxes. So for example, if you own a truck that you'd own anyway but you also use it for work and write off all vehicle related expenses, this doesn't lower your tax bill for your day-job, but it does for your mining / side business.
>tldr: best case scenario, filing taxes is equal to not filing taxes, worst case scenario, filing taxes costs you a lot of money. Worst case scenario of not filing taxes: jailtime (unlikely) or audit + penalties + backtaxes (more likely).

>>49734418

Miner here, spent £12k on GPU's and made out with £40k of Eth after powercosts (£0)

Still haven't sold the cards but who gives a shit at this point

>>49734536
you could have just bought $50k of whatever coin you were mining, ETH i guess and made even more

Miners are and will always be cuck troons but at least they turn a profit. Gamers actively lose money and time which is worth more than anything else in the world to play pozzed bullshit to distract them from their miserable lives rather than working to improve themselves and win the RPG of life. I know which group is gayer but they're both incredibly fucking gay to begin with. Shitty bait thread, shit responses, fuck yourselves/10

>>49734878
kek so much salt
i propose to make physical contact with leaves

>>49737900
Yes, but that defeats the purpose of mining which is to hedge the investment at lower risk. Buying a coin is almost complete speculation (especially in an already pumped bull market- it can go up or down bigly at any time) with a massive potential loss whereas with mining you are hedging along with the value of the GPUs and price of electricity at more predictable intervals. When mining is very good, break even point is about 3-8 months, and even less if you account for the asset of the GPU itself. If the difficulty/market changes for the worse and hypothetically I only recover 40-60% of that in that time frame, there's the option of selling GPUs at or near the purchase price to push me well over 100% return on my investment if I want to pull out any any time. The used market for gpus guarantees this especially with the current supply chain bullshit. With 3000-series GPUs for example, even after over a year of mining my USED GPUs were selling in my country for MORE than I paid brand new because there was so much scarcity

>>49737503
It's a risk you assess and take. I usually always sell as soon as I hit certain milestones in my investment, just so I don't "lose" anything on paper. Historically, there are times when selling early cost me to miss out on big 2x or 3x swings. But on the flip side selling late can cost you to lose a lot of profit. The best way is to use experience and status of the market to set a goal for cashing out and just stick with that. There are times years ago where I even mined at a loss, but you make up for it if you stay diligent and hodl to the next bull run. Again, you have to weigh this along with the current price of selling off you gpus. When I mined at a loss, the gpu market was saturated, so it made sense to do this.

Pic related, a dozen random 30-series gpus from one of my rigs that was giving issues that I've just had sitting on my shelf for over 2 months because I was too lazy. I have so many gpus, this is nothing to me

>>49736703
>small solar farm
>mining
kek i bet you're planning on harvesting the rain energy from your gutters too

>>49737868
Dude I have a real ass job and pay payroll taxes, state, and federal. Having an LLC (you can do this without one but still) let’s me reduce my taxable ordinary income through filing schedule C on my taxes and passing though gains/losses.
The IRS already has all my shit not structuring it this way would be retarded. I was able to buy hella IT shit, 3 high quality monitors, desk, router, cable management, power management, PC, etc. and get a discount at my ordinary income tax rate which is p high since gf works in BigLaw in M&A/private equity and I’m an engineer.

Not filing taxes is only logistically plausible if you live with parents and don’t have your name down on any lease/asset purchase. Both our parents are dumb af/dead so it’s not feasible for us in our situation to ignore taxes.

I structure my crypto mining so I can get all the IT equipment and electricity cost deduction I want and turn a modest profit 2/5 years so the IRS doesn’t trip and I get to save on electricity and IT shit I would have purchased anyways.

>>49737868
>doesn’t affect your other revenue streams
m8 that’s straight up not correct. Schedule C on your taxes when filing through pass through entities (LLC, LLP, sole proprietorship, etc.) reduces ordinary income.
Learn the law.

>>49734252
I hope crypto crashes so I can get a graphics card for a fucking decent price again.

>>49737608
This, my earliest memories are getting a NES in the very late 80s. Only ten years later we were anticipating the announcement of the PS2. That's fuckin mind blowing and if tech moved like that forever we'd be teleporting by now.

>>49734252
Imagine the heat. My single 3080 already keeps my house warm in winter.

>>49739006

>>49738917
Hardware development has continued at more or less the same pace, but you haven't noticed the difference thanks to the diminishing returns human programmers can squeeze out of increasingly powerful hardware.

Once low-level AI programming kicks off you'll see about 30 years of progress over a couple of years. Btw, anyone know how I can invest in this?

>>49734833
Hes in a shithole country where 30usd/month/card is big.

>>49736878
https://en.wikipedia.org/wiki/Quantum_tunnelling
you get this, but through transistors in an off position.
under 8nm doesn't work. we're already at the limit on how small transistors can go

>>49734286
>implying they actually gave a shit about YOUR hardware and not just because they wanted to still sell their game on the PS4

>>49736006
Doesn't matter.
Developers will continue to not optimize their games.
Game development software will continue to become more and more unoptimized and bloated.
Graphic card companies will always release some new shitty feature that only works on their latest cards.
You WILL upgrade every 5 years, goyim.

>>49739006
How does 300-400 watts keep your whole house warm..

>>49739374
Games aren't even good enough to upgrade anymore. I'll just keep playing the old stuff, there's already enough vidya made for one lifetime I don't need the freshly pozzed new shiny thing

>>49739396
1BR apartment / god-tier insulation.

>>49734604
but they are no longer profitable to make rigs

>>49734252
with that I can play stalker soc (vanilla) in 720p and in another window watch my lace bags burn, I just love the pain.

>>49734657
>Gamers are all fucking faggot retard cringe pathetic losers, no fucking exception
This isn't true nigger

>>49734657
>Im saying this as an ex-gamer btw
Perhaps you didn't get it right, or must have entered the wrong game, i've been earning kogs NFT on kogs slam, which i'm going to be converting to rfox tokens when i've made enough.

>>49734418
Based Sam poster

>>49734891
Do people who say this think video games are only online shooters? To me games were never different from something like a fantasy book. Chill out and play an Elder Scrolls game for a few hours. This is stupid posturing. Not everyone sits there playing COD all day.

>>49741059
Actually, video games like that are superior to fantasy in one sense. I have the ability to engage with my own narrative formation with the game as a canvas. Reading fiction hs always been strange to me because I'm reading someone elses imagination with no input and movies are people pretending to be someone else also with no input from me. It's oddly perverse in a way. I'm much more of a guilty pleasure for me to read than to play an RPG. Although I don't feel this for historical literature since it has academic value.

>>49734286
Microprocessors peaked 15 years ago. Until someone figures out quantum computing or some other future tech no one has imagined yet you're going to be stuck with something that looks more or less like a ps3 game.

Epic gamers assemble

>>49737692
>supercomputer
1060 is barely better than the 290 anon

>>49734286
fuck your shit up where is the ultra alien hyperreal gigaquantum xenoprocessor 3000

>>49736140

I have noticed the same with guns and ammo. The shelves are full and no one will buy.

>>49734286
Ive been using a GTX970 since it came out and have not really ran across any game I cannot play.

>>49737889

Do you just market dump the ETH after you mine them?

>>49734252
Games that need these cards are shit anyway.

>>49734252
gaming is degenerate. this is the one and only practical use of crypto. to fuck over GAYMERS

>>49734286
Well that's over now. Time to buy a 3000 series card or get fucked.

>>49734286
980ti here since 2015. Still going strong. Was gonna use crypto profits this summer to splurge on a $3k PC but I might get evicted in a few months instead kek

>>49734583
This.
I just had to fix my coworkers son's $1600 store bought.
What kind of gpu is in it?
>idk
What kind of processor is it?
>idk
What's wrong with it?
>it just like won't stay on
Kidnsoent $1600 of his own money on a pc and didn't even know what was in it.

>>49734252
gamers have been overtaken by troons and wymenx

Imagine being Intel right now kek no one is going to buy their trash card with all the used miner cards on the market, they were a year late.

>>49734286
1080 reporting in

>>49746129
1080 series was based. 1080 ti is still a monster. pure raw power zero sophistication. lovely

>>49734490

>>49734286
My 1070 Ti will be my last GPU. If it ever gets too slow I'm switching to fucking consoles.

GT710 reporting in

>>49735758
>would take around a year
wrong. i started summer of 2020. BE was spring 2021. guys who bought "overpriced" 3090s beginning of 2021 broke even in autum 2021.

>>49734583
Kek. Mate I play tournaments like Cometh and get money from a 15k prize pool for just fucking playing a game. And I'm the retard, lmao